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The Government is right to fix the broken annuities market, and our new research shows how vital impartial guidance and advice will be to making the reforms work for consumers. Less than half of consumers (42%) coming up to retirement trust their pension provider to act in their best interest. Our new findings show that […]
Which? executive director Richard Lloyd said: “It’s good to see the OFT taking this action but they should name and shame the 17 lenders involved so that customers are aware that they might be due compensation. We’d also like some assurances about how lenders will contact people who were affected but are no longer their customers. […]
In response to today’s Budget measures to help savers, Which? executive director Richard Lloyd said: “The Budget brings a welcome shake up for struggling savers who too often get a raw deal. “Hiking the ISA limit will encourage more consumers to save, although we also now need to see more competitive interest rates from banks that have […]
As new Which? research reveals instant access savings accounts and cash Isas have suffered an average of 20 rate cuts a month in eighteen months, we reveal tactics to get savvy with your savings. Which? research finds savings providers have made a total of 343 cuts to rates on their instant access saving accounts and cash […]
Which? executive director, Richard Lloyd, said: “It’s good to see the Financial Conduct Authority cracking down on poor value insurance add-ons, and helping to prevent consumers being misled or caught out by signing up for products that they don’t need. “We want greater price transparency across the insurance market, including a requirement on providers to put […]
Which? executive director Richard Lloyd said: “We’re encouraged that RBS says they will now put customers first and we look forward to seeing better rewards for loyal customers, simpler products and faster service. This is an essential step towards winning back consumer trust in the bank but it’s the start of a long journey and it will be important […]
Ahead of today’s Downing Street meeting with the insurance industry on flooding, Which? is renewing its calls on insurance companies to ditch expensive telephone numbers. When the Prime Minister recently intervened to require the Environment Agency to change its flood helpline from an 0845 to an 0345 number, the Government sent a clear message that […]
Following the Prime Minister’s decision to ban the Environment Agency’s Floodline from using an 0845 number, Which? is renewing its calls on insurance companies to ditch expensive telephone numbers. We believe it adds insult to injury that flood victims could pay a premium just to make a claim on their policy. We’re calling on the Financial Conduct Authority (FCA) to […]
Richard Lloyd, Which? executive director said: “Our research shows that a million households a month are using payday loans, often to cover essentials or repay other debt. If a third of all loans aren’t repaid on time that means thousands of borrowers are paying default fees, pushing them further into debt. “Payday lenders must justify the level […]
Following a new Which? investigation we believe that payday lenders are acting unlawfully by charging excessive default fees. Ten of 17 leading payday lenders we looked at have default fees of £20 or more, and four charged £25 and above, with Wonga topping the table at £30. Which?’s legal opinion is that excessive default fees […]